Tuesday, 9 December 2014

12pm update - the bigger retrace

US equities remain weak, but not surprisingly... above the early morning low of sp'2034 (with VIX 16.67). Regardless of today's close, there looks to be general downside into next weeks FOMC. The only issue is whether market gets stuck around 2020/00...or 2000/1980.

sp'daily3 - fib retrace


Without getting lost in the minor noise - not least the current late morning bounce, a retrace is clearly underway, of the wave from 1820 to 2079.

A brief hit of the giant 2000 threshold would seem pretty natural... by next Tue/Wed.

VIX update from Mr T.


Precious metals are holding the gains, which is really helping the miners, GDX +5.5%, but still stuck around old busted support of $20.

GDX, daily

time for lunch... back at 2pm